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You work hard and live frugal, you create wealth. You have wealth.

Money is not wealth. It is not even a token representing wealth.

If Germany had accumulated real physical wealth instead of money claims on other people, we wouldn't be having this problem.

Instead it accumulated money, which has no value beyond the political power it commands, and is now attempting to claim a value that it believes the money should represent.

What applies to your house applies, by simple iterative logic, also to a village, a city, a nation.

Swabian Housewife Economics.

A house that has a suitcase full of money in its basement but no car is richer than a house that has a car but no money. A country that has a vault full of money in its vault but no factories is poorer than a country full of factories but with no money.

This should not be difficult to understand, but apparently Swabian Housewife Economists have difficulty grasping it.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Feb 14th, 2012 at 05:05:42 PM EST
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